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Commerce Connected Playbook Sports And Gaming Edition AUGUST 2019 The PYMNTS Commerce Connected series, in partnership with First Data, now Fiserv, is designed to give readers an overview of the latest develop- ments, data and trends from around the connected commerce space. The Playbook will follow along as new tools debut to connect retailers with con- sumers, gauge how they drive in-store and online conversions, cover the major news and trends from connected commerce players and present new data on shifting consumer behaviors and preferences. Each edition will also include a data-driven deep dive into various retail segments and industries.
Commerce Connected Playbook Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 01 By the numbers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 07 Headlines Engagement and retention . . . . . . . . . . . . . . . . . . . . . . . . . . . . 09 Regulation and compliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Transact. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Protect. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Analyze . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Deep dive. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 The Commerce Connected series was done in collaboration with First Data, now Fiserv, and PYMNTS is grateful for the company's support and insight. PYMNTS.com retains full editorial control over the following findings, methodology and data analysis.
01 02 Executive Summary I n August 2019, the Texas Rangers baseball team announced plans to move to a smaller stadium in 2020 that would seat 9,000 fewer fans. The move followed a similar announcement by the Tampa Bay Rays regarding the team’s plans to remove 5,000 seats from its own stadium. Such decisions are not just affecting these two teams, how- ever. Professional sports franchises have seen a 10 percent decline in attendance over the past year, which is putting pressure on venues to rethink their sports fans’ viewing ex- periences — both in-stadium and at home. This decline has been a long time coming. Fans have been looking for better ways to watch and experience their fa- vorite games for as long as there have been sports, and are now turning to new digital platforms and connected to only increase. Overall, consumers are expected to spend $23 billion on mobile tickets by technologies to enhance their experiences. They expect to 2023, a 64 percent increase from the $14 billion projected to be spent this year. be able to use smartphones to order ahead at concession stands, waste fewer minutes in lines, tap and pay to quickly It is not surprising that sports venues are racing to innovate their payment processes to meet purchase snacks or use virtual reality (VR) headsets to enjoy their tech-savvy customers’ needs, though. Oklahoma City’s Chesapeake Energy Arena more immersive in-home viewing experiences. implemented cloud-based solutions to make payment processes faster and more efficient, improving the overall customer experience. The stadium has seen a 10.5 percent increase in A growing share of consumers in the United States and revenue per capita since the rollout, and is now processing up to six transactions per minute abroad are also using their smartphones to book seats and during peak intervals. skip long lines. Approximately 80 million people bought mo- bile tickets for sporting events in 2018, a figure that is likely As consumers’ habits change, some older practices are falling by the wayside and stadi- ums are embracing new technologies to adopt and enhance the in-stadium experience. © 2019 PYMNTS.com All Rights Reserved
03 04 About Several U.S.-based venues are no longer ac- Some sports arenas are going a step further cepting printed tickets, instead enabling by embracing payments made through mobile consumers to use mobile apps to gain access. phones and wearable devices. Rakuten’s sta- 80 million people Angel Stadium of Anaheim, home of the Los diums in Japan and Atlanta’s Mercedes-Benz Angeles Angels, is among them, encouraging Stadium are both pushing cashless policies consumers to purchase tickets through Major and increasing their acceptance of mobile League Baseball’s Ballpark app. The move is and contactless payments. The latter recently also helping to crack down on counterfeit tick- ets and reduce long lines. announced it will become fully cashless, making it one of the first venues in the U.S. to imple- bought mobile tickets for sporting events in 2018. ment such a model. Tropicana Field, home of Other stadiums are looking for ways to im- the Tampa Bay Rays, also went cashless earlier prove the in-house ordering experience. this year, a move it hopes will increase average Baseball teams like the Jacksonville Jaguars ticket sizes. are allowing customers to order ahead and pick up food from nearby concession stands These innovations are being embraced by sta- without having to wait in lines. Others like diums around the world — a trend that was Philadelphia’s basketball team, the 76ers, are on full display at the 2019 FIFA Women’s World enabling mobile order-ahead capabilities Cup. Contactless payment methods were used through Apple Business Chat. to pay for 51 percent of all transactions at the event, and a recent Visa study found that the New technologies are also innovating the increased tourism also boosted the number viewing experience outside stadiums. Recent of contactless transactions made outside the VR and augmented reality (AR) innovations stadium by 140 percent. have focused on improving viewing experi- © 2019 PYMNTS.com All Rights Reserved
05 06 ences at locations such as casinos and other gaming spaces, which are gaining popularity among consumers around the world. That’s especially true in the U.S., where online betting recently became legal following a Supreme Court ruling. Revenue for this market is expected to hit $150 billion, making it a consumer channel that cannot be ignored. Ten states have so far followed that ruling with new sets of regulations to help develop this fledgling market. The dawn of the online betting age is moving forward in other states such as Iowa, too, which recently granted licenses to 18 casinos within its borders. Fifteen of those casinos are expected to apply for mobile betting in the near term. Several teams, including the Washington Redskins, have launched their own online gambling campaigns as at-home viewing and betting become more popular. The campaign will give out cash prizes to viewers who correctly pre- dict outcomes during games through a separate telecast designed specifically for the experience. Fraud is increasingly becoming a concern in this space, however. The East Coast Gaming Congress has predicted that 90 percent of sports bets will be placed through online or mobile devices within the next decade, which makes their protection a top priority for all players involved. Even with the threat of fraud, sports and gaming are moving quickly to bet- ter engage a generation of online and mobile fans. They are rapidly changing thanks to new technologies and customer payment behaviors, and the ways stadiums, payment providers and sports brands engage with fans will contin- ue to shift as users become more invested in mobile and online payments. This edition of the PYMNTS.com Commerce Connected Playbook, a collabora- tion with First Data, now Fiserv, analyzes how the sports and gaming markets are changing as mobile payments and ticketing grow in popularity. It also re- views how innovation is a game-changer for retailers, sports venues, payment providers and others in the space. © 2019 PYMNTS.com All Rights Reserved
07 08 By the Numbers Click the icon to read more. 51% 140% Share of purchases made Increase in contactless Commerce using contactless payment payment growth at FIFA technology at the 2019 FIFA host cities compared to Women’s World Cup Connected June 2018 $150B Estimated potential revenue for the U.S. legal sports 64% 80M betting market following a 2018 Supreme Court decision to legalize such activities Expected increase Approximate number in mobile ticketing spend of consumers who for sports by 2023 used mobile ticketing for sports in 2018 © 2019 PYMNTS.com All Rights Reserved
Headlines 09 10 Engagement & Retention Mercedes-Benz Stadium goes cashless Online ticketing and payments’ prevalence and popularity is continuing to grow, pushing Atlanta’s Mercedes-Benz Stadium to adopt a cashless policy, becoming one of the first in the country to do so. Visitors to the stadium, which is home to the Atlanta Falcons and the Atlanta United FC, will be able to pay with mobile wallets as well as credit and debit cards. A representative noted that the venue is looking to innovate its payment model as consumers are generally carrying less cash. The move comes after Tropicana Field, home to the Tampa Bay Rays, made its switch to a cashless model. Cash-free concession sales are expected to reduce lines and wait times, and increase ticket size and the overall volume of transactions that can be processed during games. Tottenham Stadium announces it will no longer accept cash North London’s Tottenham Hotspur Stadium opened in April as a cashless venue, al- lowing visitors to make payments through apps, contactless cards and mobile wallets such as Apple Pay. The stadium, which is home to the Tottenham Hotspur FC, also released an iOS app, enabling fans to purchase season or single-game tickets and access exclusive content. The venue hopes the cashless model will provide consum- ers with greater speed and efficiency when making in-stadium purchases. © 2019 PYMNTS.com All Rights Reserved
11 12 Japan’s Rakuten Group moves to cashless stadium model Jacksonville Jaguars implement Clover Bypass for food, drinks Japanese eCommerce and technology company Rakuten will also be moving its Ra- kuten Seimei Park Miyagi stadium and Noevir Stadium Kobe to cashless models. The Similar initiatives are being put in venues will accept smartphone payment apps, eMoney payments and credit and place at TIAA Bank Field, home of debit cards. Visitors will be able to use cash in-stadium to charge their eMoney cards, the Jacksonville Jaguars. The venue but not for any other transactions. Rakuten previously explored innovative payment, is leveraging a solution from Bypass ticketing and customer experiences at its stadiums when it trialed a smart stadium to help enhance its food and drink concept that used drones, robots and 5G technology. revenues, making use of the lat- ter’s partnership with POS system and credit card reader provider Clo- ver to offer guests multiple types of payment acceptance and a more BC Place, Bypass partner with Ready for in-seat ordering streamlined concession experience. These efforts include acceptance of Many stadiums are also exploring ways to innovate in-person experiences by allowing mobile payments, EMV and contact- customers to make purchases from their seats. BC Place in British Columbia, Canada, less EMV, thanks to the stadium’s has partnered with stadium vendor Ready and software POS company Bypass to installation of more than 650 Clover create such experiences. The venue is home to both the BC Lions Football Club and terminals. the Vancouver Whitecaps FC. The TIAA Bank Field and Bypass part- The new ordering process begins with consumers using their smartphone cameras nership aims to accelerate revenue for to scan QR codes on their armrests. This directs them to the Ready in-seat ordering the venue as well as increase payment menu where they can place orders. Items are then delivered to their seats upon credit security. All parties involved hope the or debit card payment, all without fans having to miss a moment of the event. The collaboration will lead to better expe- partnership aims to promote digital transformation and enhance fans’ experiences, riences for in-person game attendees. the companies said. © 2019 PYMNTS.com All Rights Reserved
Headlines 13 14 Regulation & Compliance Montana passes three new gaming bills; none support mobile betting Online betting took two steps forward, one step back in Montana after lawmakers passed three bills — all of which leave out mobile devices — legalizing online sports betting by the end of 2019. Each bill allows users to place mobile bets only at licensed facilities. More consumers are placing bets on their smartphones, leading to revenue problems in regions that do not allow the practice. Online sports betting is climbing in New Jersey, where 80 percent of online bets are made via mobile devices. Rhode Island is seeing falling revenues, however, as it does not allow mobile bets. Its online betting market generated just $700,000 in 12 months, compared to the $11.5 million state officials predicted. Paysafe to create API-based payment solution for US sports betting The importance of fast and secure payments is growing as more customers turn to the web for gaming. Payment services provider Paysafe is developing an application programming interface (API) solution for U.S.-based eGaming operators, enabling speedier payments. The product will integrate numerous payment offerings via APIs, helping operators expand into new markets. Paysafe’s offering provides simple payment processing, acquiring and is connected with digital wallets like Skrill and Neteller. It also comes with paysafecard, an online payment method that allows users to make digital transactions without bank ac- counts. Operators can make use of the product’s business portal, which will help them manage consumer payments and integrate payment solutions into the API. The service also better protects consumers against fraud as it unifies all payments onto a single platform. © 2019 PYMNTS.com All Rights Reserved
15 16 New Jersey online sports betting accounts for 83 percent of wagers As the U.S. online sports betting market continues to grow, some states are seeing its popularity rapidly overtake in-person wagers. The state of New Jersey generated $273 million in total wagers for the month of June 2019, 83 percent of which were placed through digital means. This share comes only a year after online sports bet- ting went live in New Jersey, which seems to suggest that consumers are comfortable placing bets through online channels. Online sports betting and gaming’s popularity in the state may be inspiring similar moves elsewhere in the U.S. Pennsylvania has launched its own online sports betting support, with the rollout including both online sites and mobile betting apps. Iowa casinos ready for launch, mobile sports betting One year after sports betting was legalized in the U.S., states such as Iowa are mov- ing forward with plans to enter the market. The Iowa Racing and Gaming Commission (IRGC) has granted sports betting licenses to 18 in-state casinos, following approval of emergency rules for the market. These casinos are looking to quickly set up their brick-and-mortar locations, with many planning for August launch dates. Fifteen of the 18 casinos plan to offer mobile wagering in the next few months, too, which would require their online partners to also receive licenses for betting. The IRGC is currently reviewing controls from these online partners and has already begun its background checks on several of the companies, according to a recent news release. It remains unlikely that all online partners will have been granted ap- proval by Aug. 15 of this year, however. © 2019 PYMNTS.com All Rights Reserved
Headlines 17 18 Transact Seattle Mariners increase reliance on mobile ticketing The Seattle Mariners launched a mobile-only promotion in March that encouraged users to purchase a Ballpark Pass, a ticket that grants standing-room access to all home games for $99 a month. The promotion had a limited run last year prior to this expansion of the program. The organization is also relying more on mobile delivery for single-game tickets, after fellow Seattle teams the Seahawks and the Sounders made the switch. Fans can ac- cess their tickets through the MLB Ballpark mobile app, though they can also choose to receive their tickets via mail or at will call. Angels Stadium pushes purchases through smartphones, mobile apps The Angel Stadium of Anaheim, home of the Los Angeles Angels, is creating addition- al support for mobile ticketing, eliminating at-home ticket printing. Fans can instead use the MLB Ballpark app to buy tickets that can be scanned directly from their smart- phones, or visit the venue’s ticket offices to obtain paper tickets. Mobile tickets benefit both stadiums and consumers as they reduce counterfeit tick- ets and minimize wait times to get into the stadium. The Angel Stadium is still working out the kinks of the change, such as how it will scan mobile tickets if the Wi-Fi goes out. © 2019 PYMNTS.com All Rights Reserved
Headlines 19 20 Protect FanDragon turns to blockchain to prevent mobile ticket fraud United Kingdom-based mobile ticketing software-as-a-service (SaaS) pro- vider FanDragon is hoping blockchain technology will be able to counteract mobile ticketing fraud as more consumers purchase tickets online. The compa- ny plans to implement blockchain solutions into its products to monitor online ticket transactions for increased fraud, a move that comes as more people are being conned into buying fake tickets online. Companies can use FanDragon’s offerings to ensure safe and secure ticketing experiences for end consumers without affecting purchase speeds. The product ensures consumers are protected and enables companies to ac- cess mobile ticket revenues without fears of fraud. FanDragon launched early this year and has offices in New York, Los Angeles and London. DraftKings turns to real-time alerts, ID verification to combat fraud Barclays creates all-in-one membership card for easy access Fraud is becoming one of the top concerns for players within the online sports betting market. On- Financial institutions (FIs) are also doing what they can to provide consumers line fantasy sports marketplace DraftKings is using real-time alerts combined with enhanced identify safer and more convenient ways to pay. U.K. bank Barclays is working with verification to make sure customers are who they say they are. This comes at a time when consum- technology company Fortress and mobile payment technology platform Pingit ers are spending more money on online bets, with the fantasy sports market alone now worth $7.2 to develop a multipurpose, all-in-one membership card for sports fans, allow- billion. In the overall sports and fantasy gambling market, consumers bet more than $990 million in ing them to access digital tickets, loyalty points and other membership perks January of this year. from one mobile platform. This reduces the ways fraudsters can access pay- ment and personal information, and enables greater speed and convenience For platforms like DraftKings, this growth means making sure verification processes are cutting-edge when buying tickets or interacting with sports clubs. Barclays and Fortress are is essential. Fraudsters are looking to use stolen credentials and cards to enter these online platforms, in active talks with the Aston Villa soccer team and the Harlequins rugby team meaning providers must also make sure they are investing in anti-money laundering technology and regarding deployment. other security measures. © 2019 PYMNTS.com All Rights Reserved
Headlines 21 22 Analyze Washington Redskins to create gambling-focused telecast for at-home fans Some teams are hoping to utilize sports betting to enhance fan engagement. The Washington Redskins will become the first NFL team to offer a gambling telecast for its games, broadcasted on the team’s secondary NBC Sports Washington Plus TV chan- nel. Its traditional broadcast will continue on its main channel. The Redskins will use the gambling-focused telecast to offer cash prizes to fans who predict outcomes on plays and events during the games. The campaign also has the advantage of better engaging at-home viewers at a time when many companies and teams are working to better pair in-person and at-home experiences to ensure top customer satisfaction. More FIFA fans are using tap-to-pay, Visa study finds Worldwide sports fans are increasingly relying on mobile payments for their needs, especially at larger events. A recent Visa study found that 51 percent of 2019 Women’s World Cup attendees used tap-to-pay contactless technology to make purchases via smartphones, payment-enabled wristbands and other wearables. A Visa represen- tative noted that fans, especially international ones, appear to be responding to the convenience and speed contactless payments provide, likely because they allow us- ers to quickly make purchases and get back to the game. The study also discovered that sports fans from various regions spent their money dif- ferently, albeit on the same areas. Japanese and French fans spent the most, closely followed by those from Mexico and China. In-stadium food and beverage purchases accounted for the bulk of consumer spend at more than 54 percent of transactions, and souvenir purchases came second at 46 percent. © 2019 PYMNTS.com All Rights Reserved
23 24 BookMyShow diversifies to sports ticketing India-based mobile ticketing company BookMyShow recently reached unicorn status with a valuation of $1 billion thanks to a $70 million funding round. The company plans to use its new capital to diversify its ticketing platform as other players in the space, notably Paytm and China’s Alibaba, move into the mobile ticketing world. BookMyShow started as a simple site for Indian consumers to buy online movie tickets, but the rise of new entrants into the space has forced it to offer tickets in categories such as concerts and sporting events to compete. The company may even drastically reduce its intake from movie tickets over the next few years so it accounts for less than 50 percent of its overall revenue. Linq relies on VR for eSports, entertainment The Linq, a hotel and casino in Las Vegas, Nevada, is tapping VR to craft new ex- periences for its visitors. Entertainment director Matthew Kenagy explained that introducing VR onto the gaming floor is part of a four-year project that will make the hotel more appealing to modern consumers. Linq designated a section of its gaming floor to VR-based games and entertainment as part of its overhaul. The VR area is 45,000 square feet and provides customers with virtual and augmented reality eSports, skill-based games and other offerings. The casino will continue to offer traditional slots and table games. © 2019 PYMNTS.com All Rights Reserved
25 26 Deep Dive: Putting Connected Tech In The End Zone S ports history was made on Feb. 3 when the New England Patriots faced off against the Los Angeles Rams at Super Bowl LIII in Atlanta, though maybe not the sort of history the teams will brag about. The Pa- triots won the game with a final score of 13-3 — the lowest score in Super Bowl history. Atlanta’s restaurants and food venues had much stronger numbers to report. First Da- ta’s Gridiron Insights found that Atlanta-area restaurants saw a 17 percent rise in consumer spending during the game compared to an average Sunday. The Super Bowl drew an estimated one mil- lion visitors to Atlanta, which usually sees tourists spending double what local residents do on typical transactions. Fans are likely to contribute 42 percent more per transaction than residents during the Super Bowl, how- ever. The Gridiron Insights also found that football fans are highly likely to splurge on game-related activities. Minneapolis saw in- creased spending from New England and Philadelphia tourists during 2018’s Super Bowl LII, at which fans spent between 12 percent and 14 percent more than they typically spend in a week. © 2019 PYMNTS.com All Rights Reserved
27 28 Consumers who watched the event from the comfort of their homes or at bars or restaurants also spent big. The latest figures from the National Retail Federation found that consumers spent an estimated $14.8 billion on game-related purchases this year, with the average adult spending approximately $81.30. Businesses looking to reap these funds are investing in solutions that make it as easy as possible for consumers to get the food, beverages and souvenirs they paid for so they can get back to the game. Levi’s Stadium in San- ta Clara, California, is upping its mobile ordering game to cater to these fans. The venue, which hosted the Super Bowl in 2016, launched a mobile app that enables guests to order food and beverages and pick them up at express windows. Fans using the app can also have drinks deliv- ered to their seats. Connected tech could also help sports venues maximize revenue opportunities. Research from Oracle found that 33 percent of fans believe mobile capabilities make order- ing easier, and such technology can retain sales from the 40 percent of fans who abandon long concession lines. Several professional sports teams, including the Detroit Lions, have realized that mobile technology is essential for guests to enjoy their stadium experiences and are en- abling food ordering capabilities through team apps. Whether fans enjoy sporting events live or at home, in their own communities or in new cities, they are clearly willing to spend during the big game, with visitors to Su- per Bowl host cities willing to spend more than average. Businesses looking to make the most of this opportunity must implement tools that allow consumers to use their mobile devices to place food orders. Merchants who re- fuse can expect low revenues while tech-savvy venues take victory laps. © 2019 PYMNTS.com All Rights Reserved
29 30 About Disclaimer PYMNTS.com is where the best minds and the best content meet on The Commerce Connected Playbook, a First Data, now Fiserv, collaboration, may be updated periodically. the web to learn about “What’s Next” in payments and commerce. While reasonable efforts are made to keep the content accurate and up-to-date, PYMNTS.COM: MAKES NO Our interactive platform is reinventing the way in which companies REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, REGARDING THE CORRECTNESS, in payments share relevant information about the initiatives that ACCURACY, COMPLETENESS, ADEQUACY, OR RELIABILITY OF OR THE USE OF OR RESULTS THAT MAY shape the future of this dynamic sector and make news. Our data BE GENERATED FROM THE USE OF THE INFORMATION OR THAT THE CONTENT WILL SATISFY YOUR and analytics team includes economists, data scientists and industry REQUIREMENTS OR EXPECTATIONS. THE CONTENT IS PROVIDED “AS IS” AND ON AN “AS AVAILABLE” BASIS. analysts who work with companies to measure and quantify the YOU EXPRESSLY AGREE THAT YOUR USE OF THE CONTENT IS AT YOUR SOLE RISK. PYMNTS.COM SHALL innovation that is at the cutting edge of this new world. HAVE NO LIABILITY FOR ANY INTERRUPTIONS IN THE CONTENT THAT IS PROVIDED AND DISCLAIMS ALL WARRANTIES WITH REGARD TO THE CONTENT, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT AND TITLE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES, AND, IN SUCH CASES, THE STATED EXCLUSIONS DO NOT APPLY. PYMNTS.COM RESERVES THE RIGHT AND SHOULD NOT BE LIABLE SHOULD IT EXERCISE ITS RIGHT TO MODIFY, INTERRUPT, OR DISCONTINUE THE AVAILABILITY OF THE CONTENT OR ANY COMPONENT Fiserv, Inc. aspires to move money and information in a way that OF IT WITH OR WITHOUT NOTICE. moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class PYMNTS.COM SHALL NOT BE LIABLE FOR ANY DAMAGES WHATSOEVER, AND, IN PARTICULAR, SHALL NOT results through a commitment to innovation and excellence in areas BE LIABLE FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL, OR INCIDENTAL DAMAGES, OR DAMAGES FOR including account processing and digital banking solutions, card LOST PROFITS, LOSS OF REVENUE, OR LOSS OF USE, ARISING OUT OF OR RELATED TO THE CONTENT, issuer processing and network services, payments, eCommerce, WHETHER SUCH DAMAGES ARISE IN CONTRACT, NEGLIGENCE, TORT, UNDER STATUTE, IN EQUITY, AT LAW, merchant acquiring and processing and the Clover™ cloud-based OR OTHERWISE, EVEN IF PYMNTS.COM HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE®500, and is among FORTUNE Magazine World’s SOME JURISDICTIONS DO NOT ALLOW FOR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL Most Admired Companies®. Visit www.fiserv.com and follow on social OR CONSEQUENTIAL DAMAGES, AND IN SUCH CASES SOME OF THE ABOVE LIMITATIONS DO NOT APPLY. media for more information and the latest company news. THE ABOVE DISCLAIMERS AND LIMITATIONS ARE PROVIDED BY PYMNTS.COM AND ITS PARENTS, AFFILIATED AND RELATED COMPANIES, CONTRACTORS, AND SPONSORS, AND EACH OF ITS RESPECTIVE DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES, AGENTS, CONTENT COMPONENT PROVIDERS, LICENSORS, AND ADVISERS. Components of the content original to and the compilation produced by PYMNTS.COM is the property of PYMNTS.COM and cannot be reproduced without its prior written permission. © 2019 PYMNTS.com All Rights Reserved
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